Since mid-February we have had the opportunity to use our third incarnation of a circulating small size dollar coin since 1978.

The three standard problems with the Susan B. Anthony were the similar color and reeding to the quarter, and the continued distribution of the paper dollar. The 1999 Sacagewa fixed the color and reeding part with its golden tone and smooth edge, but the distribution of the paper dollar continued. Now we will be faced with issues of four presidents a year, plus a continued minting of the Sacagewa for the next twelve years. But wait, why are there no dollar coins in our pocket, because we are still using the familiar paper money.

So, what will make the success of the dollar coin a reality is the withdrawal of the paper dollar, the re-introduction of the $2.00 bill as the low denomination workhorse of America’s currency system, and extended use of the five dollar bill.

No, you are not going to be carrying around ten “heavy” one dollar coins, you’ll be carrying around just one or two, and having a stock of $2 and $5s paper in your wallet.

Get used to it.

George Cuhaj
Currency Notes